Chinese electric vehicle (EV) manufacturer BYD has officially signed a Memorandum of Understanding with European leasing solutions provider Arval to introduce BYD's electric vehicles into its leasing offerings for private and business customers in Germany, Italy, and Spain.
In a joint statement, Michael Shu, Managing Director of BYD Europe, expressed enthusiasm for the collaboration, stating, “The combination of BYD cars utilizing advanced innovation in EV technology and Arval's scope and expertise in corporate and private customers leasing solutions creates a dynamic cooperation.”
Arval CEO Alain Van Groenendael added, “We are very proud to be partnering with BYD, a company focused on the EV shift and innovations, and add their vehicles to our portfolio to support BYD entering the European market.”
Under the agreement, Arval will not only integrate BYD's electric vehicles but also provide advisory services to fleet operators seeking to transition to electric vehicles. The collaboration extends beyond passenger cars, encompassing a strategic focus on light commercial vehicles and energy solutions involving battery and solar systems.
The partnership includes Arval Charging Services, which will offer a wallbox and charging card for every leased electric vehicle upon request. Additionally, telematics services such as Arval Connect will enable fleet managers to monitor essential metrics, including daily mileage and trip details, facilitating the optimal selection of electric vehicles.
This alliance follows Arval's existing partnerships with Chinese manufacturers, including MG Motor, Aiways, and Geely, either on a European scale or specifically in Germany.
Van Groenendael expressed confidence in the joint forces, stating, “In this complex yet dynamic market, I am convinced our joint forces will allow even more corporates and individuals to switch to full electric vehicles.”
Coinciding with the BYD-Arval partnership announcement, a charging partnership for the Brazilian market between BYD and Shell subsidiary Raizen was also disclosed during the event at BYD's headquarters in Shenzhen.